Ripple Grows Its Global Payments Network With Five New xVia Customers

Payment originators can access RippleNet benefits with one standard
API

April 26, 2018 04:00 AM Eastern Daylight Time

SAN FRANCISCO--(BUSINESS WIRE)--Ripple, the enterprise blockchain solution for global payments, is
announcing that five new customers across Europe and Asia - FairFX
(U.K.), RationalFX
(U.K.), Exchange4Free
(U.K.), UniPAY
(Georgia), and MoneyMatch
(Malaysia) - will use xVia to power frictionless payments over RippleNet.

Requiring just one standard integration, xVia is an API solution
enabling payment originators - those sending a payment on behalf of a
customer, but not actually processing and paying it out - to access and
reap the benefits of RippleNet. This includes faster entry into new
markets, lower operational costs, increased speed and end-to-end
visibility over a payment’s journey.

“By tapping our global network with xVia, our customers now access new
markets quicker and cost efficiently,” said Asheesh Birla, senior vice
president of product at Ripple. “All of these customers run into the
same problem: building bespoke connections to banks and networks all
over the world. It’s expensive and time consuming. xVia enables them to
grow their overall market share by reaching new customers in new
markets, easier than ever before.”

Payment originators can now maintain one standard connection through
xVia and power payments over RippleNet, reducing the high failure rates
commonly associated with traditional wire transfers, and lowering manual
reconciliation costs.

“xVia will allow us to reach more people, more efficiently and at a
lower cost,” said James Hickman, Chief Commercial Officer at FairFX. “It
will also enable us to deliver on our commitment to give customers the
most transparent, efficient and truly global money transfer experience
possible using RippleNet.”

Chris Humphrey, CEO of RationalFX, said, “This is an exciting new
partnership for RationalFX, and we look forward to passing on the
benefits of xVia to our clients across the globe.”

About Ripple

Ripple provides one frictionless experience to send money globally using
the power of blockchain. By joining Ripple’s growing, global network,
financial institutions can process their customers’ payments anywhere in
the world instantly, reliably and cost-effectively. Banks and payment
providers can use the digital asset XRP to further reduce their costs
and access new markets. With offices in San Francisco, New York, London,
Luxembourg, Mumbai, Singapore and Sydney, Ripple has more than 100
customers around the world.